Judgment of relevance
From Mises Wiki, the global repository of classical-liberal thought
Judgment of relevance is the weight, appraisal or relative importance that one attaches or assigns to each of many factors that contribute to a multi-caused outcome of human actions.
Judgments of relevance are not arbitrary preferences, like judgments of value, but are sincere attempts to weigh the relative significance of all contributing factors. However, they are subjective and thus subject to variation between honest men or able experts.[1]
References
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-07-18.
